ASX-listed European Metals Holdings Limited has announced the completion of the scoping study for its Cinovec lithium-tin-tungsten project in the Czech Republic which suggests the project can be technically and economically viable.
Cinovec now has a Maiden Indicated Mineral Resource of 7 Mt at 0.23% Sn, 0.03% W and 0.21% Li, equivalent respectively to 16,100 t, 2100 t and 14,700 t of contained metal, which was upgraded from part of the Inferred Tin Mineral Resource.
The scoping study proposes a bulk underground mining operation which would produce tin and tungsten concentrates via simple gravity separation. Tailings would be further processed in a separate plant to recover battery grade lithium carbonate. Pre-production capital expenditure is estimated at US$326 million with an annual operating cost of $125 million and revenue of $233 million. The mine would conceptually produce 4,200 tpa of tin, 800 tpa of tungsten and 19,400 tpa of lithium carbonate.
European Metals CEO Mr Keith Coughlan stated “Outcomes of the Scoping Study confirm what we have assumed since the acquisition – that Cinovec has the potential to be a robust, high value project.”
The company is planning a pre-feasibility study, which it aims to complete in the first half of 2016
